I swear I've been trying to do my homework before asking you guys... But I can't find the answers... :(:(:(
1. If I pledge my property at 55 years old, do I only need to fund my RA with BRS, OR must I still fund it with FRS and then withdraw up till the BRS?
The FRS can be set aside fully with cash, or with cash (i.e. at least the Basic Retirement Sum) and property. You may also withdraw your RA savings (excluding top-up monies, government grants, and interest earned) above your BRS if you own a property.
2. I can't figure out how does CPF Life works. So after I set aside my BRS + Property Pledge in RA at age 55, which accumulates interest until age 65, then CPF Life starts compulsorily. What I can't understand is -
. 1. Are the premiums for the CPF Life Annuity deducted annually, monthly or in 1 shot at the beginning?
. 2. How do I choose what payout I get for CPF Life?
. 3. Can I still withdraw from my RA after CPF Life begins?
I am so so confused about what happens in the timeframe between 55 to 65, the CPF website isn't very clear/skips the tough questions.
1. If I pledge my property at 55 years old, do I only need to fund my RA with BRS, OR must I still fund it with FRS and then withdraw up till the BRS?
The FRS can be set aside fully with cash, or with cash (i.e. at least the Basic Retirement Sum) and property. You may also withdraw your RA savings (excluding top-up monies, government grants, and interest earned) above your BRS if you own a property.
2. I can't figure out how does CPF Life works. So after I set aside my BRS + Property Pledge in RA at age 55, which accumulates interest until age 65, then CPF Life starts compulsorily. What I can't understand is -
. 1. Are the premiums for the CPF Life Annuity deducted annually, monthly or in 1 shot at the beginning?
. 2. How do I choose what payout I get for CPF Life?
. 3. Can I still withdraw from my RA after CPF Life begins?
I am so so confused about what happens in the timeframe between 55 to 65, the CPF website isn't very clear/skips the tough questions.